Picture retiring with $1 million in the bank. Nice, right?
However, only 10% of retirees manage this feat, leaving the majority with much smaller cushions.
A peek at 2019 data reveals:
- Ages 65-74: An average of $426,000 saved
- Ages 75 and above: Roughly $357,000
That’s not even half a million!
And these numbers might shift with events like the pandemic and rising inflation.
Curious about the average retiree’s overall net worth and its components? Wondering how your savings measures up?
